Unemployment now 7.4 percent

August 15, 2012

The number of unemployed state residents climbed 2,400 to 58,900. Total unemployment was down 5,100 over the year.

The national unemployment rate inched upward one-tenth of a percentage point to 8.3 percent. Total nonfarm payroll employment declined 500 with a loss of 800 in the service-providing sector offsetting a gain of 300 in the goods-producing sector.

Within the goods-producing sector, a gain of 900 in construction offset declines of 400 in manufacturing and 200 in mining and logging. Within the service-providing sector, employment gains included 700 in educational and health services and 100 in financial activities. Employment declines included 700 in trade, transportation, and utilities, 300 in government, 200 in other services and 100 in leisure and hospitality. Employment in professional and business services was unchanged over the month.

Since July 2011, total nonfarm payroll employment has added 500 jobs, where a gain of 3,100 in the service-providing sector offset a decline of 2,600 in the goods-producing sector. Employment gains included 4,000 in educational and health services, 2,800 in construction, 1,800 in leisure and hospitality, 1,200 in professional and business services, and 300 in financial activities. Employment declines included 3,000 in mining and logging, 2,700 in trade, transportation, and utilities, 2,400 in manufacturing, 900 in government and 400 in other services.

West Virginia's not seasonally adjusted unemployment rate inched downward one-tenth of a percentage point to 7.2 percent of the civilian labor force in July 2012.